Vietnam Ambassador to India Ton Sinh Thanh welcomed hundreds of delegates operating in a wide cross section of industries to a seminar on January 11-13 in Gujarat state on the topic of doing business in Vietnam.
Over the past few years, the annual two-way trade turnover between the two nations has jumped on average 10% to 12% per year.
Ambassador Thanh said it is likely to rise even further when the ASEAN-India Free Trade Agreement (FTA) comes into effect.
Exim Bank Club President Amitabh Nagori in turn highlighted recent measures initiated by the Vietnam government to improve the investment climate for foreign investors. Nagori noted in particular that Vietnam presents excellent opportunities for cooperation in the garment and textile, pharmaceuticals, and chemical industries.
At the event, it emerged that A delegation of representatives from the business community from Gujarat are planning to attend VietnamExpo in Hanoi this upcoming April to get a firsthand look at the market and seek cooperative deals with Vietnamese partners.
During the seminar, speakers touted Vietnam’s advantages such as its young and dynamic labour force, huge market, favourable business conditions and improved infrastructure and streamlined administrative procedures.
However, they said differences in languages and lack of information remain the big hindrance.
After the seminar, Ambassador Thanh fielded queries from delegates and the media.